FINAL TRADE: Nifty reclaims 22,600, Sensex jumps 2,303 pts amid broad-based recovery

Stock market today: Benchmark equity indices zoomed on Wednesday, June 4 amid a broad-based recovery buoyed by the BJP's victory in the recent general elections, marking their third consecutive term. The 30-share BSE Sensex jumped 2303.19 points or 3.2 per cent to close at 74,382.24. The NSE Nifty rallied 735.85 points or 3.36 per cent to settle at 22,620.35. 

Following a significant downturn on Tuesday, where the equity market saw its most substantial single-day decline in over four years, domestic indices, the Sensex and Nifty 50, rebounded today.

Among the Nifty companies, 48 advanced, and two declined. From the Nifty firms, Adani Ports, IndusInd Bank, Hindalco, Tata Steel, and M&M emerged as the top gainers. Conversely, L&T and BPCL were the top losers.

"Indian market exhibited a spirited recovery driven by broad based buying across various sectors, as political stability appears assured. However, attention will remain on the formation of the government and the forthcoming RBI policy meeting," Vinod Nair, Head of Research, Geojit Financial Services said.

"The market does not expect any change in RBI’s policy stance given persistent high food inflation, and an expectation of an increase in government spending, which has led to a notable traction in FMCG stocks," he added. 

The domestically focussed Nifty SmallCap100 was up 3.81 per cent, and the Nifty MidCap100 settled 4.3 per cent higher. The high-beta Nifty Bank index, whose 12 constituents include SBI, HDFC Bank, and ICICI Bank finished 4.53 per cent or 2,126 points higher at 49,054.6.

Global Market

European shares gained on Wednesday, mirroring global sentiment. Last seen, the pan-European STOXX 600 (.STOXX) was up 0.5 per cent, rebounding from the previous session's losses.

(With agency inputs)

For all other news related to business, politics, tech and auto, visit Zeebiz.com.